For strike off of a company - Significant Accounting transaction

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R.K.Kothari

Others

66 Points Posted on 06 September 2021

Request a query.

Are they
*Significant Accounting Transaction*
Considering there should be no significant transaction since last two years to consider co *inoperative* for filing mca form stk 3/ Stk 2 strike off of a company
Are the following significant Accounting transaction.

During present year...
1. The unsecured loan Unclaimed + 15 yrs old transferred to reserve and surplus. or P&L ac.
2. Advance to staff written off to P&L ac. 15+ years old
3. Trade payables written back to P &L ac. 15+ years old.

Replies (3)

Quick Summary

This discussion clarifies what constitutes a significant accounting transaction when applying for a company strike-off. It addresses whether transferring old unsecured loans, writing off staff advances, or reversing trade payables from over 15 years ago are considered significant. The consensus is that if these transactions are historical and the company hasn't been a going concern for two years, they generally won't prevent strike-off. Guidance is also provided on how to format the statement of accounts for the strike-off application.

yasaswi gomes

My grammar is 💯 good I

5110 Points Posted on 11 September 2021

If these transactions are related to 15 years ago, no need to worry, you can proceed towards strike-off. The problem arises only when a company is a going concern from the last two years.

yasaswi gomes

My grammar is 💯 good I

5110 Points Posted on 16 September 2021

Forgot to give you the format of Statement of accounts. Put the strike off charges under head, ‘miscellaneous expenses not written off’ under asset like here: https://bangaloreicai.org/assets/uploads/newsletters/a2e0b3a2-03e5-412c-b6a8-59fa3fbd9495.pdf

and attach it to the stk2 form, this is what it looked like : https://www.indiafilings.com/learn/form-stk-2-removing-name-register-companies/

Its under Statement of Accounts.

yasaswi gomes

My grammar is 💯 good I

5110 Points Posted on 16 September 2021

There is no problem if you do that. No wrote any treatment online. Besides, they are not assets and if at all any assets are salvaged after strike off, the miscellaneous expenses should be ignored. How horrible is the system that there is no advise online, Someone master planned this so that, people who are striking off will pay money net to external expert ignoring the fact that strikeoff person is bankrupt. When will they stop pushing the external development of sme’s On employees and citizens. I don’t like to pay a single penny to anyone to strike off my company. Next, the system can plan an attempted murder on me so that I will give business to the authorities, thereby pay for unwanted things